Sunbelt Rentals Posts Record Q1 Revenue, EBITDA Growth

Sunbelt Rentals reported record Q1 revenue of $3.115 billion, up 11.2% YoY, and a 20.4% increase in adjusted EPS to $1.18. The North America Specialty segment saw 25.3% YoY rental revenue growth, while the General Tool segment grew 7.4%. Adjusted EBITDA jumped 8.7% to $1.315 billion, but the adjusted EBITDA margin declined to 42.2%. The company's net debt-to-adjusted EBITDA multiple remains at 1.8x, within its targeted range.